Done this a bit with success swing trading on XVG recently, something different ;) I'm bullish on XLM short term following it's new partnership with IBM, but been a lot of hype on the back of some very positive news for XLM so if you're day trading prepare for this one to fall out of this wedge into a lower channel and potentially fall below 500 sats. This may...
Such a piece of news and a price spike of course needs its accumulation period. We're right in its middle, where prices are bouncing up and down in the 520-580 sats zone. I confess I'm holding a nice chunk of this bad boy, so I'm a little biased over it, but I definitely think this is one of the few coins with a future around here and my investing/trading style...
compare $XLM with $BITB and it looks the same.. $STR just broke out.. looks like ready 4 last leg up..!
Lumens met rejection earlier this week when trying to break up into a new trading range "box" (yellow) above the current one (orange). Still it looks like it wants to go higher, so watch closely this weekend and going into the next week.
Usually don't use EW theory but seems to fit well here.
flag formed coming off at the tip in any minutes now.
There is quite clearly an "Ascending Dong" pattern on XLMUSD at the moment, LOAD UP!!!
The natural reaction to a Pamela Anderson trigger is a 80 degree upward motion. Expect resistance and previous local highs.
XLM breaking out been accumulating the whole way down took some profits last night at 3am back in at 600 sat range aiming to sell once we hit these dollar targets.
XLM volume picked up on news today (IBM banking initative cooperation), so let's have a look at the chart: It is currently in oversold territory according to RSI, but that does not mean it can't keep going higher on this newfound momentum. There is resistance around 1000 satoshis, but if this is broken through, the next level to look for is around 1650 sat....
Coming off news of the IBM partnership and HUGE volume out of Asia, expect a MOON MISSION from stellar once the east coast wakes up!
Early entry - red. Good entry - blue. Perfect entry - orange. Mid term targets are 800, 1200 and 2000 sats.
Price reverse from 0.618 F lvl. and broke out F- fractal based ressist. Good opportunity to BUY after small correction to F Use Supply zones as targets
Elliott wave + falling wedge + fibonacci